How Wallester Business Helps Manage Cash Flow for Small and Medium Enterprises (SMEs)

Effective cash flow management is vital for all businesses, especially for small and medium enterprises.

Cash flow is the term used to describe the flow of money in and out of a company over a specified period. This can be weekly, monthly, quarterly, or annually. The aim is to ensure that the amount coming in is higher than the figure going out, creating a positive cash flow.

Wallester Business offers a range of tools to help companies improve their financial management, providing instant access to data and enabling them to manage finances more effectively.

With integrated accounting tools, invoicing options and expense control, Wallester Business can help small and medium enterprises overcome cash flow challenges quickly and easily.

Common Cash Flow Struggles for Small and Medium Enterprises

In an ideal scenario, cash flow should always be positive, meaning that more money is coming in than going out. When this doesn’t happen, it is called a negative cash flow, which can lead to disastrous consequences if left unchecked.

When cash flow isn’t properly monitored and managed, businesses can find that they don’t have enough cash in reserve for unexpected payments. This can mean that business growth is slowed, and in some cases may even mean enterprises are forced to close.

Cash flow problems can occur at any time and for various reasons.

Late Payments from Clients

Whether a client is a few days or a few weeks late making a payment, it can have a severe impact on cash flow. Small and medium enterprises often rely on clients paying invoices on time to ensure that cash is where it needs to be.

Late payments can mean that expenses are unable to be cleared, or that funds from other areas of the business need to be redistributed to cover costs.

Difficulty Managing and Tracking Expenses

Knowing exactly how much money is coming in and out is essential. If you’re unable to properly track your expenses, it can be difficult to ensure that funds are available to cover them and predict how much cash is available at any given time.

Limited Financial Planning Tools

Often, small and medium enterprises will have a limited range of tools available to them. This can make it difficult to properly create a financial plan that is tailored to their needs.

Solving cash flow issues is essential for growth. Implementing strategies and technology to sufficiently manage and mitigate potential issues enables companies to plan further ahead, consider future investments, increase efficiency, and identify problems before they occur.

What Makes Wallester Business a Game-Changer for SMEs?

Wallester Business offers users a range of features as a standard to simplify cash flow management:

• Customisable corporate cards – With virtual and physical card options that can be customized for individual users to monitor and limit spending.
• Payment approval options – Adjustable settings mean payment approval can be placed on individual cards or for a more general spending limit.
• Real-time transaction monitoring – Every transaction is tracked and can be seen instantly.
• Budgeting and forecasting tools – With integrated financial accounting software, reports and forecasts can be generated automatically, allowing you to monitor and adjust budgets accordingly.
• Invoice storage – You can store all of your invoices in one place, allowing you to track whether they are outstanding or paid instantly.

How Wallester Simplifies Cash Flow Management

Wallester Business enables small and medium enterprises to simplify their cash flow management systems by conveniently bringing everything together in one place.

Automated expense tracking allows for better financial visibility. You can instantly see where funds are being spent and how much each purchase is for.

This means that you can quickly and easily identify any unnecessary expenses and streamline where necessary. Spending limits can also be put in place for individual card users, helping to avoid over-expenditure.

As well as expense tracking and management tools, Wallester can be seamlessly integrated with your existing accounting tools. Whether you use Sage, QuickBooks, Xero, or any other accounting software, all of your accounts will work together, making it easier than ever to manage accounts and create financial forecasts.

Real Benefits for SMEs

Small and medium enterprises can enjoy a vast range of benefits from Wallester Business.

Enhanced Control

Because you can see transactions as they happen in real-time, you will be able to quickly and easily react to situations as they develop.

Whether it’s noticing that a product is increasing in price, an invoice that hasn’t been paid, or an unexpected expense, Wallester Business offers full control of your cash flow at the touch of a button.

Time-Saving Features

Automated report generation, spending alerts and integrated accounting software are among the time-saving features, which means you can spend less time poring over spreadsheets and more time growing your business.

Security

It’s vital to know that your account will remain secure, no matter what. With encryption, biometric authentication and fraud monitoring software, amongst other security features, you can feel confident with Wallester that your private information will remain safe.

Frequently Asked Questions

Final Thoughts

Taking control of your finances as a small or medium enterprise is essential for ensuring your long-term growth and success.

Using Wallester Business will provide you with the technology you need to manage your cash flow more effectively. You can track expenses, produce accurate forecasts, and monitor invoice payments. As your company grows, Wallester will continue to adapt to your needs.

Wallester AS is licensed by the Estonian Financial Supervision Authority. The company has the status of VISA Principal Member, is a member of the VISA Ready and VISA Fintech Fast Track programs. The headquarters of Wallester AS is located in Tallinn (Estonia). The company's services are available in all countries of the European Economic Area (EEA).

WikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.